The most powerful person in the global economy
"The most powerful person will soon be the president of the European Central Bank, the Italian banker Mario Draghi. In the last few weeks, we have seen an extraordinary expansion of the European Central Bank’s powers. It can now set interest rates, control financial markets, and effectively dictate tax and spending policies across what remains — despite its current difficulties — the world’s largest single economic bloc. But history suggests that when you concentrate too much power in a single pair of hands, and even worse when the person who wields that power is not limited by any form of accountability, the results are catastrophic." Continue reading →